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Investors & landlords
The SFSS has all you need on it, and some stuff/information you don't need for taxes. So I can't help with the details since there's no fixed format for the "new and better" closing statement. Basically for the seller, costs associated with selling the property are claimed/deducted as sales expenses. This includes, and is not limited to, commissions, staging fees, and advertising costs. Any costs you paid that are directly associated with your disposition of the property are also deductible. Examples would include title transfer fees paid at the courthouse. But generally, it's the buyer that pays the courthouse fees. From the buyer's perspective, those costs are referred to as the property acquisition fees.
‎February 8, 2023
2:57 PM